What banks or institutions do you recommend for loans for multifamily properties (more than 4 units up to 50 units)?
Which are the least complicated to get the loan?
I would speak to some of the brokers who hang out on BP.
Many of them can lend anywhere in the US.
@Alberto Murra it depends on the property size, price, condition, occupancy and many more factors.
Agency debt Freddie and Fannie have strict criteria. Ie. minimum loan balance, occupancy, borrowers net worth and liquidity requirements etc etc.
If you are starting out without knowledge, i suggest you talk to local banks and mortgage broker.
Also consider obtaining some sort of education....
@Alberto Murra a quick rule of thumb: if your property is less than $1M go with a local bank, if it's $1-$5M go with a lender that offers direct Fannie small balance or Freddie SBL loans and if you are greater than $5M go with a lender that offers direct Fannie or Freddie multifamily loans. If you need a lender for greater than $1M please message me and I will give you a few names.
@Bjorn Ahlblad thanks
@Hadar Orkibi thank you for the information
@Danny Randazzo hello, thank you very much for the information. The property will be between 2-3 million. If you have 2 or 3 names i will appreciate!
@Alberto Murra I will send you message now.
@Alberto Murra happy to help. Message me and I'll send you the contact.